Ethereum in the red on Tuesday as bears re-enter The market after failing to breakout a key resistance level. Price failed to sustain yesterday’s move above $1,300 and lost momentum in today’s session.Bitcoin also fell, but he is trading above $17,000 at the time of writing.
Bitcoin
Bitcoin (BTC) closed higher in today’s session as prices retreated from his three-week high on Monday. had been hardened.
After peaking at $17,371.00 early in the week,BTC/USD fell to an intraday low of $16,922.43 earlier in the day.
This drop is due to traders appearing to be looking to secure profits following yesterday’s price surge.
chart, a drop occurs as the 14-day Relative Strength Index. (RSI) could not even climb beyond its own ceiling.
As of writing, the index has him hovering at the 48.14 level, which is just below his 50.00 cap.
BTC could head back towards $17,400 points in the next few days if a breakout occurs.
Ethereum
Ethereum (ETH) was also in the red during Tuesday’s session.
ETH/USD bottomed out at $1,252.47 earlier in the day. This is because the bulls have failed to sustain his rise above $1,300.
At the time of writing,ETH is currently trading at $1,264.00, nearly 3% below Monday’s peak of $1,302.24.
Similar to Bitcoin, Ethereum’s drop today is capped by RSI occurs when it falls below 52.00 level.
Currently the index is 50.18 and the second largest cryptocurrency trading in the world is $1,263.60.
The 10-day (red) moving average continues to move above the 25-day (blue) moving average. This is usually a sign of pending bullish sentiment.
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